UPDATE 4-JPMorgan profit dives as banks brace for coronavirus-led loan defaults [Reuters]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Reuters
JPMorgan profit dives as banks brace for coronavirus-led loan defaults (Reuters) - JPMorgan Chase & Co’s ( JPM.N ) profit plunged by more than two-thirds in the first quarter as the largest U.S. bank put aside nearly $7 billion in reserves to protect it from a wave of potential loan defaults in the months ahead. The results painted a grim picture at the start of a long, tough period for lenders, with Chief Executive Jamie Dimon saying the economy was facing a “fairly severe” recession because of the economic shutdown caused by the coronavirus. “If the economy gets worse, we’ll bear additional loss,” Dimon said on a call with analysts. “But we do forecast all of that. We know we can handle really adverse consequences.” That tone was repeated by the No. 3 U.S. bank, Wells Fargo & Co ( WFC.N ), which also reported profits plunged as it boosted reserves in the first quarter. In total, JPMorgan recorded charges worth $8.3 billion in the first quarter, mostly due to money the bank set a
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WFC
News
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- Wells Fargo & Company (NYSE:WFC) had its price target lowered by analysts at TD Cowen from $102.00 to $100.00. They now have a "hold" rating on the stock.MarketBeat
- Wells Fargo & Company (NYSE:WFC) had its "outperform" rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $100.00 price target on the stock.MarketBeat
- Wells Fargo & Company (NYSE:WFC) had its price target lowered by analysts at Evercore ISI from $110.00 to $105.00. They now have an "outperform" rating on the stock.MarketBeat
WFC
Earnings
- 1/14/26 - Miss
WFC
Sec Filings
- 1/16/26 - Form 424B2
- 1/16/26 - Form 424B2
- 1/16/26 - Form 424B2
- WFC's page on the SEC website